Fitch Withdraws Russia’s Ratings to Comply With EU Sanctions

European Union flags fly outside the European Commission headquarters in Brussels, on April 10, 2019. Yves Herman/Reuters

Fitch said on Friday it has withdrawn Russia’s ratings to comply with European Union sanctions, after the rating agency downgraded the country’s rating to “junk” territory earlier this month.

Aggressive sanctions against Russia over its invasion of Ukraine have targeted several banks and businesses, crippling the country’s economy and prompting the Russian rouble’s free fall.